Dec 27, 2012 4:00am EST
no plans to reconvene. last week, house speaker john boehner said it was up to the house to act on extending unemployment benefits. as we work through all of this, we are happy to be joined by allen capper, head of credit strategy at lloyd's for the hour. welcome back. i guess we're still shaking off the christmas turkey tryptophan, i guess they call it, and yet it feels as though it's groundhog's day. >> yes. you say shaking off the christmas blues and we're shaking still waiting to hear what happened with this fiscal cliff. we knew they would take it to the wire. there's no surprises. what concerns me, this may stretch on until january. now, this is not the first time we've been in a situation like this in my career in the markets. the opportunity is clearly markets may sell off and then an accord has to be reached. i guess a lot of people will be seeing that. >> what are you seeing in credit markets right now? is there a sense they're looking at the strong off move? >> i think in the credit market, liquidity started to disappear last week and now there's no real positioning w
Dec 28, 2012 4:00am EST
days before the u.s. goes over the fiscal cliff. speaker john boehner has called the house back into session sunday evening. house majority leader eric cantor is telling his members to be prepared to work through january 2nd. both sides are still far apart on taxes and spending cuts. harry reid says prospect deals by monday are unlikely. minority leader mitch mcconnell says there's still time for an agreement. >> republicans aren't likely to sign a blank check just because we find ourselves at the edge of the cliff. that wouldn't be fair to the american people. >> now, a new reuters poll shows americans blame republicans more than democrats or president obama for the fiscal crisis. and when asked who they held more response, 27% said the gop, 6% pointed to the dems and 30% said all of the above. for more on this, we're joined by christian schultz from barronberg bank. welcome. so we're going over the fiscal cliff. >> well, the consumer confidenc already be over the cliff in terms of confidence already. that might already be the first impact of the crisis of -- not of the crisis,
Dec 24, 2012 5:00am EST
with house speaker john boehner to keep taxes for 98% of americans from going up on the first of january. but both sides, though, they're not talking and congress is in recess until after christmas. some democrats are still hopeful that a deal can be reached, but the republicans, they're not holding out hope. >> i would hope that we would have one last attempt here to do what everyone knows needs to be done, which is the larger plan that really does stabilize the debt and get us moving in the right direction. >> if we go down to the end of this year and the only choice we have is to save taxes going up on the middle class, then i would support that. but i wish we would have a comprehensive bill that dealt with spending, dealt with entitlements and dealt with taxes altogether. >> i believe the president is eager to go over the fiscal cliff as he senses a victory at the bottom of the cliff. >> republicans are now looking past for new year's day to the battlegrounds. >> i would raise the debt ceiling only if we save medicare and social security and prevent this country from becoming greece.
Dec 26, 2012 5:00am EST
back from hawaii. speaker john boehner has not even committed to bringing the house back into session. the senate will come back on thursday. and not deal with the fiscal cliff but deal with spending bills to clean up new york and connecticut and new jersey from hurricane sandy and reauthorize some intelligence bills. so i mean, there's no real deal in the offing. there's nothing going on behind the scenes that would lead us to believe that anything would get done before january 1. >> all right. josh, out to you. obviously a lot of the discussion has been around the kind of deal that we would get if we do get something. if a deal does come through, it -- more likely will not be comprehensive, right? there's going to be a lot of negotiating that occurs after the first of the year. i guess my question to you is, does this leave the markets open to turmoil and more volatility as we head into january? >> the markets are going to be left open to turmoil and volatility, period. what we've seen is that despite the stakes getting higher, this isn't a game of poker but one of go fish. and no o